re: 7265
>
>
>You do realize that difference equations can't be used to model
>continuous change? Differential equations are required for that job.
>This is not a trivial point. Paul C has argued that TSS gets at least
>some of its particular results by slicing time into "periods" rather
>than attempting to model continuous change.
>
>Allin.
Yes, I have blundered: it would seem that if there are many firms in
a branch, say, in a one branch economy and they are all making
techno-organizational improvements of one sort at one point or
another, then change in the branch and economy as a whole would be
continuous, and discretization (if that is the word) would
misrepresent the process. Allin, am I following you?
I had the impression from discussion on OPE-L that the debate was
between simultaneous and difference equations. But it would be great
if there were some OPE-L debate about why (and which) TSS results
depend on the discretization implicit in the use of difference
equations.
All the best, R